Barclays investigates possible overvaluation in MLPs and thinks “the sector does not screen as cheap and will widen if the market gives up recent gains," advising investors who are overweight in EPD, PAA and KMI to moderate their positions. It's OK to add to ETB, EPB and DPM, the firm says, but reduce exposure to BPL, EEP and BWP.

Under normal market conditions, the Funds investment program will consist primarily of (1) owning a diversified portfolio of common stocks that seeks to exceed the total return performance of the S&P 500 Composite Stock Price Index and (2) selling S&P 500